Humber/Ontario Real Estate Course 3 Exam Practice

According to the REBBA Code of Ethics, which of the following is required in a seller customer service agreement?

1. The requirements regarding agreements exceeding six months apply to representation agreements, but not to customer service agreements.

2. The minimum content for a representation agreement differs from that required of a customer service agreement.

3. A seller customer service agreement must have an effective date, expiry date, and remuneration details.

4. The information to be provided before entering an agreement varies depending on if the individual is a client or customer.

The correct answer is: A seller customer service agreement must have an effective date, expiry date, and remuneration details.

The correct answer emphasizes that a seller customer service agreement must include specific key details such as an effective date, expiry date, and remuneration details. This requirement ensures that both the seller and the service provider have a clear understanding of the terms of their arrangement, including the timeframe in which the agreement is active and the financial aspects involved. This clarity helps to prevent misunderstandings and sets expectations for the services to be performed. When looking at the context, the other options either suggest incorrect implications about the nature of the agreements or provide an unnecessary distinction that is not pertinent to the fundamental requirements of the seller customer service agreement. For instance, the minimum content for representation agreements may have varying requirements, but clarity around customer service agreements remains consistent and essential—hence the necessity of including the effective and expiry dates along with remuneration details. Similarly, while information provided may vary between client and customer contexts, it does not negate the fundamental requirements for a seller customer service agreement itself, which makes the selected answer aligned with the guidelines set forth in the REBBA Code of Ethics.